Okay we have a great location picked: only drive thru one a major commuter road w/ space for a small retail shop inside. I have a great supplier who works with other small coffee shops in the state. I have the plans laid out and everyone thinks its great idea.

But for renovations/supplies/ect its coming out 300k. Is that a horrible idea?

I have reached out to local agencies and haven’t found grants and I don’t feel comfortable asking family.

I’m torn between you only live once/this is my dream and omg I want to throw up.

  • rupeshsh@alien.topBEnglish
    1·
    1 year ago

    Lots of advice already …here is mine

    Let’s convert the 300k debt into the monthly payment

    Say 6000 dollars a month x 5 years

    Now add your rent

    And add 4 salaries

    This will be your monthly fixed - let’s say 12k dollars or 400 dollars a day .

    If 50% of your income goes to this 20% to food cost , 15 percent to randomness then 15 percent is profit So

    1. Can you sell 800 dollars a day / 80 customers

    2. Is 3000 dollars a month good money for you to take home

    3. Are the numbers above accurate

    4. Where will you spot the 12k monthly in the months where you don’t achive this .

    If you go ahead, do basic interiors, spend like 100k . Do great food , more than the coffee.

    Do epic marketing and come here and show us your marketing plan